Lawyers from law firms agreed that the standard proposed by the Executive is erroneous and warn of effects on the industry.
The Ministry of Finance presented last week a package of indications to reformulate the Anti-Fraud Law in the Senate.
The proposal of the Executive reinforces the catalog of presumptions of crimes through the establishment of willful misconduct or “gross negligence” linked to the user’s responsibility when there are frauds in their means of payment.
However, such standard did not come close to what was requested by the financial guilds during the legislative debate, which asked for the establishment of “slight fault”.
For the director of group compliance at Albagli Zaliasnk, Francisca Franzani, the Treasury’s approach “increases operating and management costs for issuers, who, faced with the need to cover these additional expenses, tend to pass them on to consumers in the form of higher rates or less favorable conditions“.
Source: Diario Financiero, March 22, 2024.